Gordon Lowenstein entered into an equity swap that calls for quarterly payments on a notional amount of $1,000,000. Lowenstein agreed to pay the rate of return on EQIndex and receive an annualized fixed rate of 6% (30/360 day year).

Now 300 days have passed and Lowenstein wishes to value the equity swap. On the last settlement date EQIndex was at 5,450 and today EQIndex is at 5,475. The current 60-day interest rate is an annualized 5% (assuming a 30/360 day year). The value of the pay equity, receive fixed swap is closest to

Group of answer choices

A) $10,413

B) $2,025

C) - $2,100

D) - $6,612